There are compelling reasons why individuals should consider RESAVER:
- Access to best-in-class investments, administration, communication and modelling tools independent of the country or employer you work for.
- At least as tax efficient as a local employer-sponsored workplace pension plan.
- Economies of scale mean that fees are low and this improves benefit outcomes.
- Enables individuals to build up pensions savings even if their contract is for only a short period of time.
RESAVER provides individuals with the opportunity to remain with the same high-quality pension arrangement when moving between different countries and employers. (The new employer must be a member of RESAVER.)
This helps make individuals’ pension saving easier to understand and keep track of. This is achieved through:
- easy access to pension information through a single website, eliminating the need to remember multiple login details or trace old pensions;
- a consolidated, simplified benefit statement; and
- transparent fee structure with no hidden costs.
RESAVER makes it easier for individuals to understand the multiple plans they belong to. This is because plan designs vary by country only to the extent necessary to comply with local regulations.
The more organisations that subscribe to RESAVER, the more effective it becomes for individuals to be able to build up pan-European pension savings.